MIRA
INFORM REPORT
|
Report Date : |
07.06.2008 |
IDENTIFICATION
DETAILS
|
Name : |
MEISEN CO LTD |
|
|
|
|
Registered Office : |
1-15-1 Fukiagecho Gifu 500-8326 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
30.06.2007 |
|
|
|
|
Date of Incorporation : |
August 1972 |
|
|
|
|
Legal Form : |
Limited Company (Kabushiki Kaisha) |
|
|
|
|
Line of Business : |
Import, Wholesale of Men’s Casual Wear |
RATING &
COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
Maximum Credit Limit : |
YEN 88.7 Million |
|
|
|
|
Status : |
Small Company |
|
|
|
|
Payment Behaviour : |
Regular |
name & address
MEISEN CO LTD
REGD NAME: Meisen KK
MAIN OFFICE: 1-15-1 Fukiagecho
Gifu 500-8326 JAPAN
Tel:
058-253-8733 Fax: 058-253-7102
URL: N/A
ACTIVITIES
Import, wholesale of men’s casual wear
BRANCHES
Tokyo
OFFICER(S)
SOICHI ISHII, PRES
Motohiro Ishii, dir
Shuji Ishii, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 3,650 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND STEADY WORTH Yen 829 M
STARTED 1972 EMPLOYES 28
COMMENT
IMPORTER OF MEN’S CASUAL WEAR. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 88.7 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by Soichi Ishii in order to make most of his experience in the subject line of business. This is a family-based trader for import and wholesale of men’s casual wear as mainline. Goods are imported from China mainly. Clients are chain stores, apparel dealers, other. Tokyo Branch Office handles marketing in Tokyo Metrop and vicinities areas.
FINANCIAL INFORMATION
Financials are only partially disclosed.
The sales volume for Jun/2007 fiscal term amounted to Yen 3,650 million, a 9% down from Yen 4,014 million in the previous term. The operations dipped into the red to post Yen 31 million net loss for the term. This compares with Yen 20 million net profit a year ago. The reason of the losses is not made open.
For the current term ending Jun 2008 the operations are expected to come back to profitability to post Yen 15 million net loss, on a 10% rise in turnover, to Yen 4,000 million.
The financial situation is considered maintained FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 88.7 million, on 30 days normal terms.
REGISTRATION
Date Registered: Aug 1972
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 80,000 shares
Issued: 20,000 shares
Sum: Yen 10 million
Major shareholders (%)
Soichi Ishii (100)
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports and wholesales men’s casual wear (--100%).
Clients
[Chain stores, men’s wear shops, wholesalers] Mycal Corp, Aoki Holdings, Aeon Corp, Knit Okazaki, Haruyama Trading, Aoyama Trading, Yagihyo Co, other.
No. of accounts
500
Domestic areas of activities
Nationwide
Suppliers
[Mfrs, wholesalers] Tamurakoma & Co, NI Teijin Trading, Mitsui & Co, Knit Okazaki, GSI Creos, other.
Imports from China, other.
Payment record
Regular
Location
Business area in Gifu. Office premises at the caption address are leased and maintained satisfactorily.
Bank References
Jyuroku Bank (Tonyamachi)
Gifu Shinkin Bank (Masagocho)
Relations: Satisfactory
FINANCES: (In Million Yen)
|
Terms Ending: |
30/06/2007 |
30/06/2006 |
30/06/2005 |
30/06/2004 |
|
|
Annual
Sales |
|
3,650 |
4,014 |
3,673 |
4,332 |
|
Recur.
Profit |
|
|
28 |
54 |
|
|
Net
Profit |
|
-31 |
20 |
32 |
-7 |
|
Total
Assets |
|
|
2,720 |
2,660 |
|
|
Current
Assets |
|
|
2,028 |
1,964 |
|
|
Current
Liabs |
|
|
1,640 |
1,602 |
|
|
Net
Worth |
|
829 |
860 |
840 |
|
|
Capital,
Paid-Up |
|
10 |
10 |
10 |
10 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
-9.07 |
9.28 |
-15.21 |
-1.16 |
|
|
Current Ratio |
|
.. |
123.66 |
122.60 |
.. |
|
N.Worth Ratio |
.. |
31.62 |
31.58 |
.. |
|
|
R.Profit/Sales |
|
.. |
0.70 |
1.47 |
.. |
|
N.Profit/Sales |
-0.85 |
0.50 |
0.87 |
-0.16 |
|
|
Return On Equity |
.. |
2.33 |
3.81 |
.. |
|
Notes: Financials for the 30/06/2007 fiscal terms are only
partially disclosed.
The figures shown are the actual ones resulted.
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)